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Ex-Broker Pleads Guilty to Insider Trading

A former broker accused last year of trading ahead of a $1.2 billion acquisition by International Business Machines Corp. has pleaded guilty to insider trading charges.

Thomas Conradt, a former broker at Euro Pacific Capital Inc., was among those that prosecutors accused of illegally trading on inside information about IBM's plans to acquire software-analytics firm SPSS Inc. before it was announced in 2009. The scheme allegedly resulted in more than $1 million in illicit profits, according to prosecutors.